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Beach Park board accepts 2025 audit, commends finance staff
Summary
The Beach Park Village Board voted to accept the annual comprehensive financial report and audit for fiscal year 2025, with board members praising the finance department’s preparation and internal controls and noting reliance on state shared revenues as an ongoing risk.
The Beach Park Village Board voted to accept the village’s annual comprehensive financial report and audit for fiscal year 2025 at its regular meeting.
Trustee Patrick Johnson, chair of the finance committee, presented the report and said staff and the finance committee recommended acceptance after reviewing the document. Johnson read the auditors’ closing comment that “we commend the finance department for the well prepared audit package and appreciate the courtesy and assistance given to us by the entire village staff,” and the board expressed appreciation for finance staff work.
The audit’s management letter, Johnson said, showed positive budget results — revenues at or above budget and expenses controlled — and did not identify any internal control deficiencies or testing findings. The auditors noted two upcoming GASB pronouncements the village will monitor and implement if necessary, Johnson said.
Several trustees praised long‑standing conservative budgeting practices that the board credited with avoiding shortfalls. Trustee comments emphasized maintaining reserve balances and dedicated funds — including a vehicle replacement fund and water and sewer reserves — to avoid borrowing for foreseeable capital needs.
Trustees also flagged an ongoing external risk: potential changes to state shared revenue distributions. Board members said they will continue to monitor legislative proposals in Springfield that could affect those revenues.
The motion to accept the audit passed on a roll call vote. The board directed staff to retain the audit materials and to work with finance on any GASB implementation items noted by auditors.
The acceptance concludes the formal audit review for FY2025; trustees said they will continue routine oversight of budget performance and fund balances.
